Guideline Value for Periyar Cross Street

Periyar Cross Street guideline value

The current guideline value of Periyar Cross Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Thandalam village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Periyar Cross Street has changed

The guideline value for Periyar Cross Street has seen significant changes over the years. In the 2017 revision, the value was Rs 737 per sq.ft, which increased to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,210 per sq.ft, reflecting a further increase of 10% from the previous year.

Between the 2017 and 2024 revisions, the overall increase is 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, which is the same as the guideline value for Periyar Cross Street.

• Pillaiyar Koil Street: Rs 1,210 per sq.ft (2024)
• Nehru Street: Rs 1,210 per sq.ft (2024)
• R.K. Vallarasu Nagar: Rs 1,210 per sq.ft (2024)
• Melma Nagar: Rs 1,210 per sq.ft (2024)
• Mariamman Nagar: Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 6): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property.

Which Sub Registrar Office covers Periyar Cross Street?

The Sub Registrar Office covering Periyar Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thandalam

The guideline value is a crucial factor during the registration of property transactions in Thandalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential for buyers and sellers to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Cross Street?

The current guideline value of Periyar Cross Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for property in Periyar Cross Street?

For a property valued at Rs 12,10,000, the stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900.

Which office handles property registration for Periyar Cross Street?

The Pammal Sub Registrar Office handles property registration for Periyar Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for property transactions, impacting the stamp duty and registration fees payable. It ensures transparency and fairness in the property registration process.